Urgent.. The European Central Bank cuts interest rates for the fourth time this year.

After the conclusion of the monetary policy committee meeting on Thursday, the European Central Bank decided to cut interest rates in line with market expectations, by 25 basis points for the fourth consecutive time, bringing the main refinancing rate to 3.15%. This follows the bank's previous decision to lower the main interest rates in the Eurozone at the last meeting to 3.40%, while it also reduced the interest on deposits by 25 basis points to 3.00%.

A monetary policy statement from the European Central Bank will be released shortly, providing more detailed explanations about the economic situation in the Eurozone, followed by a press conference from ECB President Christine Lagarde to comment on the interest rate decision and the monetary policy statement, within less than 30 minutes from now.

Short-term interest rates are considered the main factor for currency value, as investors are watching for other indicators to predict possible future changes in rates. This is especially true since the primary goal of the monetary policy pursued by the European Central Bank focuses on achieving price stability. If the ECB's inflation outlook is positive and interest rates are increased, it is viewed positively for the euro, while a rate cut is seen as negative for the euro currency.